Market sentiment news and analysis:
- A possible truce in the US-China trade war is being offset by the ongoing trade spat between the US and the EU.
- Signs of a weakening global economy are also ringing alarm bells, although stocks remain in demand.
Trading sentiment dominated by trade issues
An improvement in market sentiment on a lull in the US-China trade war is being offset by the continuing trade dispute between the US and the EU over aircraft subsidies, as well as persistent signs that the global economy is slowing or even contracting.
This can be seen, for example, in the price of gold – one of the key “safe havens” – which fell back Monday but has been rising Tuesday.
Gold Price Chart, Five-Minute Timeframe (July 1-2, 2019)
Chart by IG (You can click on it for a larger image)
In this webinar, I looked at the technical and economic factors affecting trader confidence, at this week’s forward-looking data and at the retail trader positioning figures.
Resources to help you trade the forex markets:
Whether you are a new or an experienced trader, at DailyFX we have many resources to help you:
- Analytical and educational webinars hosted several times per day,
- Trading guides to help you improve your trading performance,
- A guide specifically for those who are new to forex,
- And you can learn how to trade like an expert by reading our guide to the Traits of Successful Traders.
--- Written by Martin Essex, Analyst and Editor